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NAREIT joined The Real Estate Roundtable, the Mortgage Bankers Association and the CRE Finance Council (CREFC) last week in submitting comments to the Basel Committee on Banking Supervision (BIS) in response to its recent consultation document proposing revisions to the standardised approach for credit risk. The consultation document covers a new framework for assigning risk weights to bank credit exposures, including those related to commercial real estate.

In March, NAREIT’s Investor Outreach team met with a diverse group of 59 global investment organizations controlling more than $5.5 trillion in institutional investment assets. The meetings were held with organizations across all targeted investment cohorts, including 16 with U.S. and Latin American pension and endowment plans; two with investment consultants; 20 with investment managers; and 21 with organizations and associations active in supporting the global pension and retirement industry. 

The continued growth and development of the REIT industry has provided NAREIT with an even stronger story to tell the world. The March 2015 edition of REITWay: NAREIT’s Annual Report summarizes our work on behalf of our industry over the past year and into the future. 

NAREIT's Investor Outreach team participated in the Texas Association of Public Employee Retirement Systems (TEXPERS) annual conference in Austin, Texas. The TEXPERS membership includes 71 pension and retirement systems representing approximately $89 billion in assets. 

NAREIT submitted testimony last week to the Hawaii House of Representatives Committee on Finance opposing a proposal directing two state agencies to prepare a study of REIT activities in the state (S.B. 118, S.D. 1, H.D. 1).

NAREIT participated in the 2015 Spring Conference of the Pension Real Estate Association (PREA), in Washington, D.C. PREA corporate members focus primarily on institutional real estate investment through private markets. The conference attracted more than 800 attendees representing pension funds, as well as their investment consultants and real estate fund managers.

NAREIT senior executives traveled to China in March to meet with government, investment and market organizations in Beijing and to speak at the 2015 China Wealth Management Forum in Hangzhou. NAREIT's China outreach initiative supports efforts by Chinese government officials and other organizations to develop REIT-based real estate investment in China, to promote investment in U.S. REITs by Chinese investors and investment organizations, to inform Chinese real estate interests about joint business opportunities with U.S. REITs and to develop relationships with Chinese real estate and investment organizations.

A record crowd of more than 1,200 attendees were in Phoenix last week for REITWise 2015: NAREIT's Law, Accounting & Finance Conference at the JW Marriott Desert Ridge Resort & Spa. The three-day "hands-on" conference focused on the political, economic and market events impacting legal, financial, tax and accounting operations within REITs and publicly traded real estate companies.

NAREIT's Communications team regularly evaluates how we communicate to our members as well as the broader public. This includes printed publications such asREIT magazine; REIT.com, the leading online source for REIT industry news and information; and multimedia offerings such as NAREIT's web videos and podcasts. NewsBrief is among NAREIT's most important lines of communication with its membership. In an effort to provide you with a more reader-friendly product, our weekly electronic newsletter will start hitting your inboxes next week in a new format.

During the first three months of 2015, NAREIT conducted 139 meetings with many of the largest and most influential investment organizations within the institutional investment marketplace, primarily in the U.S., but also in Mexico. Collectively, these entities represent more than $17 trillion in assets under management or advisement.

Rep. Mark DeSaulnier (D-CA), center, visited Macerich's Broadway Plaza in Walnut Creek, Calif., which is in the midst of a multi-phase quarter-billion dollar redevelopment. DeSaulnier was briefed on the progress of the redevelopment while touring the property with Macerich executives Jeff Carlisle, Shelly Dress, and Tracy Dietlein.

On April 29, the Real Estate Department of the Zicklin School of Business at Baruch College will host “Global Real Estate Markets: Trends, Risks, and Opportunities,” a conference inviting international real estate investors and academic research professionals to assess recent and future trends and risks in global real estate investing. The keynote address at the event will be delivered by Sam Zell, chairman of Equity Group Investments.

NAREIT and a group of industry organizations wrote to the leaders of the House of Representatives and the House Energy and Commerce Committee last week in support of the Energy Efficiency Improvement Act of 2015 (S. 535). In a letter to Speaker of the House John Boehner (R-OH), House Minority Leader Nancy Pelosi (D-CA), and House Energy and Commerce Committee Chairman Fred Upton (R-MI) and Ranking Member Frank Pallone (D-NJ), the groups noted that if Congress doesn’t act by April 16, the Department of Energy will prevent the manufacturing of large volume, grid-enabled electric resistance water heaters.

Calvin Schnure, NAREIT senior vice president for research and economic analysis, spoke at the National Multifamily Housing Council’s Annual Research Forum to present results of a new study on the determinants of demand for senior housing.The study found that the senior housing sector has grown considerably over the past generation and offers an increasing diversity of choice for seniors. The move to senior housing has become, for many older Americans, a choice of lifestyle, rather than a move based on need for medical or nursing care.

NAREIT is pleased to welcome five new corporate members: Landmark Infrastructure Partners, Easterly Government Properties, Missouri Valley REIT, Inc., American Realty Capital New York City REIT, Inc. and American Realty Capital Healthcare Trust II, Inc.

On April 9, Colin Brainard (left), tax staffer for Rep. Lynn Jenkins (R-KS), visited the Tysons Corner Center, which is owned and managed by Macerich (NYSE: MAC). As a member of the House Ways and Means Committee, Jenkins is very familiar with REITs and the publicly traded real estate industry.